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Bitcoin moved within the range of 66034-66998 over the course of the day.
At the time of writing the Review, the price of Bitcoin is 66338
Market capitalization is 2.37 trillion, dominance index is 55.21%.
Stock markets opened neutrally. The yield of 10-year bonds has increased, the dollar index is holding above 105, Asian indices are trading in different directions, S&P 500 futures are in place.
This week, there are no data releases that would have maximum significance for the market. Movement may be caused by data on the US labor market (to be released on June 20) and the US real estate market (on June 21).
In addition, data on inflation in the EU, South Africa, and Germany will be released, but their impact on the markets is not particularly significant.
The dollar index at these levels is negative for the market. But it is offset by the expectation of an imminent rate cut. The serious threat to the stock market can only come from geopolitics. Or some events that will complicate the normal conduct of elections and the announcement of results.
By the way, about the elections.
The date of the debate between Trump and Biden has been set. They are scheduled to take place on June 27. The terms prohibit the use of any notes or prompts, as well as communication with their respective staff. It's interesting to see how they plan to pump up Biden so that he doesn't fall asleep or get lost there.
It looks like there will be a lot of memes after the debates. And a rapid rise of the PolitFi sector in the cryptocurrency market.
Bitcoin failed to hold above 66500, but Ether has grown. However, the cryptocurrency market is showing weakness overall.
What can cause an influx of money and audience, and how to overcome this weakness?
- Good news about the start of trading ETHETF, for example.
- Or a situation in which the Fed starts actively generating money right now
- The drop in the dollar index to 104-103.9 will be sufficient for Bitcoin to move to 69000-7000
However, if the dollar index finally collapses below support at 104-103.9 and falls further, it is not excluded that Bitcoin in this case will quickly rise above 72K.
What can send Bitcoin to support at 65000-64800, and in case of unfavorable developments - even lower?
- Rise in the dollar index to 106
- FUD or real negative about the crypto market (hack, scam, regulators).
- Stock market crash
But one should remember the main thing. Падение (whether to 65K, or lower) - is temporary and not for long.
The next move to 72K may be final already.
What needs to be done in this situation, and what should not be done - was told earlier.
Interesting.
- Toncoin has surpassed Ethereum in the number of active addresses.
The main advantage of the TON ecosystem is the easiest entry for a new audience. And thanks to this advantage, it can still greatly surprise the markets.
Today's priority option is Bitcoin in the range with a lower boundary at 65200-64800 and upper at 67200-67500
Alternative - consolidation above 67500